Cinven to trim portfolio

Cinven, the private equity owner of private hospital chain Spire Healthcare, has appointed property agency DTZ to sell seven of its 37 hospitals so it can reduce debt.

According to The Times, the company is considering an initial public offering but is waiting until it knows more about how UK government plans will affect its business. Cinven paid £1.4bn for Bupa Hospitals in 2007. It paid £145m for another 11 hospitals before rebranding the business as Spire Healthcare.